Trade Report: The Vanguard Group Inc. invests in Continental Resources Inc. (CLR) Shares

The Vanguard Group Inc. invests in Continental Resources Inc. (CLR) Shares

Vanguard Group Inc. raised its position in Continental Resources Inc. (NYSE:CLR) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,024,309 shares of the company’s stock after buying an additional 135,141 shares during the period. Vanguard Group Inc. owned approximately 1.63% of Continental Resources worth $272,722,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. IBM Retirement Fund raised its position in shares of Continental Resources by 1.0% in the second quarter. IBM Retirement Fund now owns 8,753 shares of the company’s stock worth $396,000 after buying an additional 87 shares in the last quarter. Brown Advisory Inc. boosted its position in Continental Resources by 0.7% in the second quarter. Brown Advisory Inc. now owns 17,220 shares of the company’s stock worth $779,000 after buying an additional 112 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Continental Resources by 2.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,080 shares of the company’s stock worth $592,000 after buying an additional 356 shares during the last quarter. Utah Retirement Systems boosted its position in Continental Resources by 2.6% in the second quarter. Utah Retirement Systems now owns 15,704 shares of the company’s stock worth $711,000 after buying an additional 400 shares during the last quarter. Finally, Segment Wealth Management LLC boosted its position in Continental Resources by 4.4% in the second quarter. Segment Wealth Management LLC now owns 9,420 shares of the company’s stock worth $426,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 23.37% of the company’s stock.

Continental Resources Inc. (NYSE:CLR) opened at 53.14 on Wednesday. The company’s market cap is $19.69 billion. The company has a 50-day moving average of $49.35 and a 200-day moving average of $43.03. Continental Resources Inc. has a 52 week low of $13.94 and a 52 week high of $55.07.

Continental Resources (NYSE:CLR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.01. The business earned $525.70 million during the quarter, compared to analyst estimates of $518.42 million. Continental Resources had a negative net margin of 24.96% and a negative return on equity of 7.57%. The firm’s revenue was down 33.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 EPS. On average, equities research analysts predict that Continental Resources Inc. will post ($0.80) EPS for the current year.

CLR has been the subject of a number of research reports. Wunderlich upped their price objective on Continental Resources from $50.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Nomura upped their price objective on Continental Resources from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 25th. Canaccord Genuity set a $60.00 price objective on Continental Resources and gave the stock a “buy” rating in a report on Friday, October 7th. Stifel Nicolaus reiterated a “hold” rating on shares of Continental Resources in a report on Wednesday, August 31st. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $50.00 price objective on shares of Continental Resources in a report on Wednesday, September 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $44.25.

In other news, SVP Steven K. Owen sold 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $46.54, for a total transaction of $148,928.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gary E. Gould sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $50.25, for a total transaction of $251,250.00. The disclosure for this sale can be found here. Insiders own 76.97% of the company’s stock.

Continental Resources Company Profile

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